Shareight.com raises $1 million in crowdfunding in 24 hours

London-based mobile shopping app SHAREIGHT has closed £662,050 through equity crowdfunding platform Seedrs, overfunding its original target by 190%.   (I am non-exec director and the first angel investor in the platform.)

The campaign attracted 334 investors across 12 countries who will now receive a share of 18.08% equity in the m-commerce start-up.

SHAREIGHT “takes the pain out of shopping on mobile” through its m-commerce interface which has been built solely for mobile to allow users to find and share retail products on their smartphone “more easily”.  You can download the app for both Android and IOS.

Listing over 8,000 retail brands, the app enables shoppers to find what they want “in just three taps” using its 500 image search terms, and also offers “easy comparison”; letting users save their favourite items from all the major stores in one place.

This was a remarkable achievement and shows just how powerful a well-executed equity crowdfunding campaign by a highly appealing business can be.

A few stats that give a sense of SHAREIGHT’s achievement:

• 95 investors came from eight different countries, with over £100,000 coming from outside the UK.
• Average investment size was £3,684.21, and the median was £300.
• The largest investment was £79,000, and the smallest was £10.

Shareight.com raises $1 million in crowdfunding in under 24 hours.